USD/JPY Open 92.13 High 93.05 Low 90.97 Close 91.47
Dollar/Yen traded hesitantly on Friday within the 90.97 – 93.01 range, matching the Interbank sentiment at around -23%. On Friday the currency couple depreciated from 93.01 to 90.97, closing the week at 91.47. Today the currency couple is making recovery efforts, and on the 1 hour chart the upwards correction is very strong. Break above the nearest 93.50 resistance and today’s top would support further recovery of the Dollar. Immediate support is Friday’s bottom at 90.97, and consistent break bellow it could strengthen the Yen further towards next objective 90.11. There are no major economic events for Japan today. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and inclining upwards, while CCI is positive and dovish on the 1 hour chart, giving overall light bullish signals.
Technical resistance levels: 93.50 94.92 96.00
Technical support levels: 90.97 90.11 89.00
Trading range: 93.05 – 93.70
Buy at 93.16 SL 92.86 TP 93.56
Written by iFOREX.bg